The average cost to an organization with a data breach was $8.19M in the US last year. Up from $3.54M in 2006. As the impacts of data breaches increases, it makes sense organizations are spending more money to prevent costly breaches. Worldwide Data Loss Prevention (DLP) market revenue growth will be from $1.24B in 2019 to $2.28B in 2023. Investing in DLP solutions to prevent data breaches makes sense.
A 10,000 employee organization may pay up to $500,000 a year for their DLP license, configuration, and support. To make DLP work, organizations must follow the discover, classify, and protect paradigm.
In this example, the same 10,000 employee company purchases licenses, support, and professional services: $150,000 for a discovery tool and a $200,000 for a classification tool. Let's also assume the company spends $150,000 for a user behavior analytics (UBA) tool. In total, the company pays $1,000,000 per year.
Why are those solutions so expensive? DLP is a competitive space. Competition should keep prices in balance. What you find for many of the legacy DLP, classification, discovery, and UBA tools is that they make most of their revenue from services.
Professional services are needed to configure, monitor, re-configure, and generally make the solutions work. The tools are so cumbersome that companies need to hire professional services to set up and maintain the solution.
The current Symantec DLP admin guide is over 2500 pages. DLP also manages everything by rule. Admins need to set up hundreds or thousands of rules to allow or deny various workflows.
Varonis is a popular UBA solution with over a $2B market cap and makes over 50% of its revenue through services.
SecureCircle's technology and approach are entirely different from legacy DLP. Other articles describe the technical merits of SecureCircle versus DLP. From a numbers point of view, SecureCircle doesn't require discovery, classification, or UBA tools to function. Immediately eliminating $1,000,000 spend a year for our example 10,000 employee company.
SecureCircle manages policies by exception, so the initial configuration and daily management are minimal. Admins manage changing user permissions in the company's Active Directory, so no additional tools to learn.
CISOs and IT departments have growing demands and limited budgets. Free up money and resources by selecting the proper DLP solution.
Ponemon Institute 'Cost of a data breach' 2019
Software license costs are estimates and vary by volume, features, vendor, etc.